Updates

Petrofac - Acquisition broadens service range

September 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Oil services firm Petrofac has announced the acquisition of Eclipse Petroleum Technology, a specialist production engineering company for an initial Â£7m, rising to a maximum of Â£16m depending on future profitability. Founded in 1999, Eclipse provides oilfield services such as field development, production modelling and optimisation. It also provides risk management throughout the well's life cycle. Earlier Petrofac cheered investors with news that it has won an extension to an existing lump-sum engineering, procurement and construction contract to build a fifth gas processing facility in the Western desert area of Egypt. The shares remain well ahead of our original main recommendation pri ...

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Petrofac - Oil services group recovering after contract setback (November 2016)

Petrofac (May 2013)

Petrofac - "Farm-in" to large gas discovery in Cameroon (December 2012)

Petrofac - Oil services firm exploiting strong demand (September 2012)

Petrofac - To deliver "net profit growth of at least 15%" (July 2012)

Petrofac - Goldman Sachs has 2008p price target (April 2012)

Petrofac (January 2012)

Petrofac - Backlog twice covers revenues (October 2011)

Petrofac - US$2.1bn new orders (August 2011)

Petrofac (June 2011)

Petrofac - Huge contract win swell order backlog to US$13.5bn (March 2011)

Petrofac (February 2011)

Petrofac - Take some profit off the table (October 2010)

Petrofac - Oil services firm secures several new contracts (September 2010)

Petrofac - Shares hit new highs on back of forecast beating results (April 2010)

Petrofac (February 2010)

Petrofac - To deliver â€œat least 20% eps growthâ€ (December 2009)

Petrofac - Guidance for profit growth of at least 20% growth (October 2009)

Petrofac - Fast growing oil services firm with high predictability of revenues (August 2009)

Petrofac - Lower oil price reduces forecast (December 2008)

Petrofac - Interims beat expectations (October 2008)

Petrofac - Oil & gas engineer with record order book (August 2008)

Petrofac - 10% eps upgrade (July 2008)

Petrofac - Shares break above Â£6 for first time (May 2008)

Petrofac - Shares soar over 50p (February 2008)

Petrofac - Oilfield services firm sees rampant demand as energy prices soar (November 2007)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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